American Institute of Certified Planners (AICP) Practice Exam

The local economic development strategy primarily focuses on enhancing the local workforce and community. This approach is essential because it aims to strengthen the capabilities and skills of the workforce, preparing them for employment opportunities that meet the needs of the local economy. By investing in education, training programs, and community engagement, a locality can improve its economic resilience, foster innovation, and create a more sustainable economy.

In addition, enhancing the community involves working to improve the quality of life for residents, which can lead to higher retention rates of the workforce and attract new residents. A strong community with a skilled workforce is more attractive to businesses, which further supports local economic growth.

While marketing local products and attracting foreign investments are important components of economic development, they serve as strategies that can be utilized alongside the core focus of enhancing local workforce and community. Eliminating subsidies for businesses can also have implications for local economic development, but the overarching goal of creating a robust local economy centers on building the talent and resources present within the community itself.